ICICI BANK Personal Loan Interest Rates

ICICI bank was founded in 1994 and is currently the second largest bank in India. It offers a diverse range of banking and financial products to retail and corporate customers. The bank has a network of 4,050 branches and over 12,000 ATM’s across India. Their range of products and services span bank accounts, credit cards, loans, insurance, trading and investments. The bank is consistently recognized as one of India’s foremost financial institutions.

While calculating the interest rate of ICICI Bank we need to understand the multiple parameters that play a role in arriving at this number. The parameters to calculate ICICI Bank interest rate could be the loan amount required, the company you are working in, the tenure of the loan amount, the salary bracket that you are in and so on. ICICI Bank interest amount a portion of the loan amount over and above the principal amount which is repaid to ICICI Bank. ICICI Bank interest rate is usually depicted as a percentage of the loan which is calculated annually and also known as Annual Percentage Rate (APR). Each ICICI Bank EMI repayment has a portion which goes towards the principal amount and the remaining is calculated as Interest. Usually, the interest portions are higher in the initial EMI’s and reduce as the EMI’s progress. On the other hand, the EMI adjusted against the principal amount is lower in the start of EMI repayment and increase as the tenure progresses.

ICICI Bank has categorised companies into different segments. Some of these categories and the companies that fall in each category are depicted in the table below.